Invesco Ltd. (NYSE:IVZ) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama decreased its position in shares of Invesco Ltd. (NYSE:IVZ) by 0.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 98,445 shares of the asset manager’s stock after selling 784 shares during the quarter. Retirement Systems of Alabama’s holdings in Invesco were worth $1,729,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of IVZ. Avior Wealth Management LLC raised its stake in Invesco by 484.9% during the third quarter. Avior Wealth Management LLC now owns 1,550 shares of the asset manager’s stock worth $27,000 after purchasing an additional 1,285 shares during the period. Family Firm Inc. acquired a new stake in shares of Invesco during the 2nd quarter worth approximately $28,000. Sentry Investment Management LLC purchased a new stake in shares of Invesco during the 2nd quarter valued at approximately $30,000. Wilmington Savings Fund Society FSB acquired a new position in Invesco in the third quarter valued at approximately $35,000. Finally, Allworth Financial LP grew its position in Invesco by 304.0% in the third quarter. Allworth Financial LP now owns 2,400 shares of the asset manager’s stock worth $42,000 after acquiring an additional 1,806 shares during the period. Hedge funds and other institutional investors own 66.09% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on IVZ. Royal Bank of Canada lifted their target price on Invesco from $18.00 to $19.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 23rd. Barclays boosted their price objective on shares of Invesco from $18.00 to $19.00 and gave the company an “equal weight” rating in a report on Wednesday, October 23rd. StockNews.com upgraded shares of Invesco from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Wells Fargo & Company upped their price objective on shares of Invesco from $16.50 to $17.50 and gave the stock an “underweight” rating in a report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. lifted their target price on shares of Invesco from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Monday, October 21st. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Invesco currently has an average rating of “Hold” and a consensus price target of $18.88.

Invesco Stock Up 3.3 %

Shares of NYSE IVZ opened at $17.33 on Friday. Invesco Ltd. has a 12-month low of $14.16 and a 12-month high of $18.94. The stock has a market cap of $7.79 billion, a P/E ratio of -18.84, a PEG ratio of 1.06 and a beta of 1.43. The company has a current ratio of 4.91, a quick ratio of 4.91 and a debt-to-equity ratio of 0.66. The business’s fifty day simple moving average is $17.88 and its 200-day simple moving average is $16.80.

Invesco (NYSE:IVZ) last announced its quarterly earnings data on Tuesday, October 22nd. The asset manager reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.01. Invesco had a positive return on equity of 8.83% and a negative net margin of 3.00%. The business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter last year, the business posted $0.35 EPS. The business’s quarterly revenue was down 20.8% compared to the same quarter last year. As a group, equities analysts predict that Invesco Ltd. will post 1.69 EPS for the current fiscal year.

Invesco Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Thursday, November 14th were given a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.73%. The ex-dividend date was Thursday, November 14th. Invesco’s dividend payout ratio is presently -89.13%.

Invesco Profile

Invesco Ltd. is a publicly owned investment manager. The firm provides its services to retail clients, institutional clients, high-net worth clients, public entities, corporations, unions, non-profit organizations, endowments, foundations, pension funds, financial institutions, and sovereign wealth funds.